It is easy for officials to apply for a loan from banks. This is not only the case here in Germany, but also abroad. In this country, officials are also checked by the Credit Bureau. Some already have loans or want to keep their Credit Bureau clean, so that civil servants often apply for a loan abroad.
The advantage here is that foreign banks do without Credit Bureau information and rely on other collateral. Thus, a loan for officials without Credit Bureau can be taken out without any problems.
Why is it so easy for officials to get a loan?
Officials have many advantages in lending. So they have a very secure job that makes it almost impossible to slip into unemployment. In addition, the income from civil servants is very secure on the one hand and quite high on the other. In this way, the loan can easily be secured with the salary of the official.
Banks abroad do not work with Credit Bureau and want other collateral for this. This includes a secure income that is so high that the bank can pledge it should there be a loan default. Officials bring this security with them so that they can easily apply for a loan for officials without Credit Bureau from a bank of their choice.
How is the loan processed?
Officials interested in this loan must first contact an online credit broker. This works with different banks abroad, increasingly in Switzerland and Belgium, and processes the applications. He charges a fee for his work, which is discussed in advance.
However, this fee does not have to be paid until the applicant signs a loan agreement. As long as no contract has been signed, the credit intermediary has to forego his money. The credit intermediary then sends the necessary documents to different banks, which then submit offers to the borrower.
This can take a while, but it is worth it, because the offers all have different interest rates and can therefore be compared. In this way, the best interest is found on a loan for civil servants without Credit Bureau and the applicant can then decide on an offer.
Unlike other groups of people, it is easy for civil servants to obtain a loan. Especially when it comes to a loan without Credit Bureau, civil servants are very welcome at banks. With a loan comparison that the official can carry out on the Internet, he can save a lot of money and find an attractive offer.